who don\'t.\" Since reading this news, I have made a point of kissing my wife be
ID: 1160541 • Letter: W
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who don't." Since reading this news, I have made a point of kissing my wife before work every morning in order to (1) prolong my life, (2) avoid car accidents, and (3) raise my income. Briefly explain (for one of these goals) why my logic is likely mistaken. (10 points) Part IV Long Discussion Questions (with the theory and practice in your country to answer the questions below) (30 points) 1. In the last few days, the news media has been full of stories about this year's flu season and the shortage of flu vaccine. But suppose this were a normal year and there were more than enough doses of vaccine to give to everyone who wanted one. (20 points) (a) Suppose there were no medical insurance, and suppose that flu vaccine is produced by a competitive producers, so the cost of getting vaccinated is equal to the marginal cost of producing one more dose of vaccine (say, S10) Assume there are some people who are allergic to the vaccine and therefore cannot be vaccinated What feature of this particular market would lead you to expect that the outcome produced by the free market will not be socially efficient? (Hint: The answer I am looking for is related to the fact that if catch the flu, I might give it to someone else). What kind of public policy response does stendard economic theory suggest to this kind of problem? Can this logic explain why some private institutions give free flu shots to their employees?( (10 points) (b) Children who have the flu are more infectious than prime-age adults. Elderly people can die of the flu. Suppose there is a shortage of flu vaccine and it must be rationed Uise the logic and terminology of public finance theory to explain the logic of why children and the elderly should be vaccinated before prime-age adults. (You must use terminology in your answer). (10 points) proper public finance 2. Some economists argue that the Social Security system distorts people's behavior and impairs economic efficiency Do you agree with this opinion (10 points)Explanation / Answer
(1). Flu is a very dangerous disease. Initially, it starts with bird/animal later it spreads to human beings. If the flu disease is new to the world then the death rate will increase day by day until any country found the medicine for the respective flu OR World Health Organization(WHO) intervene to find the solution.
Normally this kind of flu’s started from Dark Continent means Africa or Western countries. So, it may reach or spread to another country takes a time.
In the meanwhile, the WHO organization release the word to countries to find out the medicine for the flu.
When they are preparing the medicine for the respective flu’s then they are making in large quantities in order to supply for the rest of the world.
Normally new diseases spread in particularly winter seasons. So, the countries ready to react immediately when the new disease/flu born.
Once the flu started to spread then the news channels/media will immediately alert to the public. So, the public will follow or take the precautions without affected by the flu.
Suppose, the flu not spread and it is immediately eradicated in before spreading the virus.
In the meanwhile, the countries alerted & found the solutions and made enough medicines for the respective flu’s. So, the cost of expenditure will increase and its impact will be shown in their countries economy.
These kinds of problems also may happen. Really, the conditions are very diplomatic. We can’t judge whether the need to prepare the medicine OR save the country economy. We can’t explain the sensitive circumstances.
(a). If any company got the rights to distribute the medicine to the public in competitive scenario then the company will distribute the medicine on the marginal cost basis only.
So, it is really helpful for the public to have the medicine to pay on the normal amount.
Normal public or poor persons also can get this medicine only pay the marginal cost even if they don’t have any medical insurance.
When the flu spreading severely in the country then the private institutions immediately alert their employees by giving medicines.
Because, if they have affected with the disease then they will sick and the impact will be shown on work production. Finally, if all the employees sick then it leads to getting shut down of the private institutions OR they may face severe loss.
(b). Suppose, the countries economic position is not good then the medicine of flu will distribute by strategically. If the flu is spreading in the country then based on their economic scenario the public finance plays a vital role to acquire the minimum medicines.
Public finance is not in a good position to bear and distribute all groups then they first target to children.
Later they will think about the elder people. If their public finance is support only these two groups then they will make it stop it to distribute the medicine to children and elder people.
If the public finance is extremely good then the country distribute the medicines for all of the public means children, elder people and also prime-age adults.
Who are the prime-age adults?
Prime adults mean who are fell under the age of 18 to 39 years.
Why do the public finance weak countries not distribute to the prime- age adults?
Because the prime-age adults will belong to the age of 18 to 39 years. This age group people may not feel sick easily. Their resistance power is so good compared with children and elder people( who are attained above 39 years of age).
So, the important factor of distributing the medicine is whether the countries public finance is healthy or not?
(2). Yes, I agree with this opinion. Because the social security system is very strong then the economic position will not effective. The restrictions will be held on imports and exports then the country will restrict on all the things.
So, the country economical position will not go healthy. Ultimately fraternity will be disappeared in between the countries and continents.
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